The Rise and Fall of the ABS Market

The nancial crisis has raised some concern about the quality of information available on some traded assets on the securities markets to market participants and regulators. Asset-backed securitization in general got partial blame for the paucity of liquidity on bank balance sheets and the consequent credit crunch. After the Asset-Backed Security (ABS) market fell to near inactivity in 2009, the US federal government's Term Asset-Backed Securities Loan Facility (TALF) provided backing and a boost to the issuance of asset-backed securitization. In this market condition, given the nature of ABS, it is di¢ cult for them not to be relatively illiquid, and this has resulted in unacceptable levels of market risk for most investors. Their liquidity before the crisis was driven by a market in continuous expansion, fed by Special Purpose Vehicle (SPV), Conduits, and other low capitalized term-transformation vehicles. Nowadays, the industry is concerned with the ongoing ABS reforms and how these will be implemented. This article reviews the ABS market in the last decade and the possible consequences of the recent regulatory proposals. It proposes a retention policy and the institution of a new nancial body to supervise the quality of the security in an ABS pool, its liquidity, and the model risk implied by the issuer's valuation model.

The rise and fall of piecework–timework wage differentials: market volatility, labor heterogeneity, and output pricing

Based on detailed payroll data of blue collar male and female labor in Britain’s engineering and metal working industrial sectors between the mid-1920s and mid-1960s, we provide empirical evidence in respect of several central themes in the piecework-timework wage literature. The period covers part of the heyday of pieceworking as well as the start of its post-war decline. We show the importance of relative piece rate flexibility during the Great Depression as well as during the build up to WWII and during the war itself. We account for the very significant decline in the differentials after the war. Labor market topics include piecework pay in respect of compensating differentials, labor heterogeneity, and the transaction costs of pricing piecework output.

Short- and long-term effects of litter size manipulation in a small wild-derived rodent.

Iteroparous organisms maximize their overall fitness by optimizing their reproductive effort over multiple reproductive events. Hence, changes in reproductive effort are expected to have both short- and long-term consequences on parents and their offspring. In laboratory rodents, manipulation of reproductive efforts during lactation has however revealed few short-term reproductive adjustments, suggesting that female laboratory rodents express maximal rather than optimal levels of reproductive investment as observed in semelparous organisms. Using a litter size manipulation (LSM) experiment in a small wild-derived rodent (the common vole; Microtus arvalis), we show that females altered their reproductive efforts in response to LSM, with females having higher metabolic rates and showing alternative body mass dynamics when rearing an enlarged rather than reduced litter. Those differences in female reproductive effort were nonetheless insufficient to fully match their pups' energy demand, pups being lighter at weaning in enlarged litters. Interestingly, female reproductive effort changes had long-term consequences, with females that had previously reared an enlarged litter being lighter at the birth of their subsequent litter and producing lower quality pups. We discuss the significance of using wild-derived animals in studies of reproductive effort optimization.

Smart News, Issue 7, Fall, 2001

Newsletter for Economic Development

IDED Tools and Trends, Fall 2002

Newsletter for Economic Development

IDED Tools and Trends, Fall 2003

Newsletter for Economic Development

Iowa Aviation Bulletin, Fall 2002

Quarterly newsletter published by the Iowa Department of Transportation's Office of Aviation that contains information of interest to aviation-related persons and organizations.

Research News, Fall 2003

Newsletter for Iowa Department of Transportation

Iowa Aviation Bulletin, Fall 2003

Quarterly newsletter published by the Iowa Department of Transportation's Office of Aviation that contains information of interest to aviation-related persons and organizations.

The Iowa African-American Journal, Spring/Fall 2001, Vol. 7, no. 1

Newsletter for the Iowa Commission on the Status of African-Americans

The Iowa African-American Journal, Spring/Fall 2002, Vol. 8, no. 1

Newsletter for the Iowa Commission on the Status of African-Americans

White Cane Update, Fall 1998

The White Cane Update newsletter includes information about the latest happenings at the Iowa Department for the Blind.

White Cane Update, Fall 2003

The White Cane Update newsletter includes information about the latest happenings at the Iowa Department for the Blind.

Iowa Civil Rights Commission Communicator, Fall 2000, Vol. 18, no. 2

Newsletter produced by the Iowa Civil Rights Commission